US steel firms seek probe on anti-dumping

LONDON - Reuters

A group of steel pipe makers in the United States has urged the U.S. International Trade Commission to investigate what they say is a flood of unfairly traded products from a group of countries, mainly in Asia.

The petition, filed late on July 2 on behalf of companies including U.S. Steel Corp, asked the commission to consider anti-dumping duties on imports of certain steel pipe products used in the oil and gas industry.

It cited imports from India, South Korea, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vietnam.In addition to the anti-dumping investigation, the petitioners requested countervailing duties on pipes from both India and Turkey.

Shares in Europe-based pipemakers Tenaris and Vallourec rose about 6 percent and 3 percent respectively yesterday. Traders cited the anti-dumping petition as the reason for the rise.